Positioning Services Global Market Report 2024

The positioning services market size has grown rapidly in recent years. It will grow from $27.25 billion in 2023 to $30.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth during the historic period can be attributed to rapid urbanization, a robust automotive industry, the utilization of digital marketing and online channels, increasing reliance on location-based data, and a shifted focus towards the customers' perspective in product positioning.

The positioning services market size is expected to see rapid growth in the next few years. It will grow to $51.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The anticipated growth in the forecast period can be attributed to a growing emphasis on smart and connected technologies, expanding precision agriculture applications, increasing demand for geospatial imagery analytics, mapping, and GIS applications, the integration of 5G networks, and the rise of e-commerce. Major trends during the forecast period include the adoption of GPS technology, advancements in automotive navigation, positioning technology, satellite technology, and other technological advancements.

The surge in autonomous vehicles is poised to drive the growth of the positioning services market in the foreseeable future. Autonomous vehicles, which operate and navigate without constant human intervention, rely on advanced sensor technologies, computer systems, and artificial intelligence. This proliferation of autonomous vehicles is spurred by advancements in artificial intelligence and sensor technology, coupled with substantial investment and support from private companies and governments to bolster safety and efficiency in transportation. Accurate and reliable positioning services play a pivotal role in developing and operating autonomous and self-driving vehicles, thereby enhancing automotive functionality and safety. For example, the National Association of Insurance Commissioners anticipates there will be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030, underscoring the increasing presence of autonomous vehicles and their impact on the positioning services market.

Key players in the positioning services market are striving to develop innovative solutions, such as GNSS Precise Point Positioning (PPP) services, to elevate the accuracy, reliability, and efficiency of location-based applications across diverse industries. GNSS Precise Point Positioning (PPP) is an advanced data processing technique within the global navigation satellite system (GNSS) that furnishes highly accurate location information by rectifying various error sources in GNSS signals. For instance, in July 2021, Fugro, a Netherlands-based surveying services company, unveiled the SpaceStar GNSS Precise Point Positioning (PPP) service. This groundbreaking service delivers real-time sub-decimetre absolute positioning and nanosecond-level timing onboard Low Earth Orbit (LEO) satellites, offering unprecedented accuracy in space. Moreover, it facilitates enhanced space situational awareness, precise thruster optimization, proximity operations, auto-docking, Earth observation applications, and RF geolocation.

In September 2023, HAV Group ASA, a Norway-based water supply company, completed the acquisition of Undheim Systems AS for an undisclosed sum. This strategic acquisition aims to integrate Undheim Systems' dynamic positioning technology with HAV Group's smart navigation system to provide innovative solutions that enhance vessel control and safety, while also advancing the industry towards more sustainable and efficient operations. Undheim Systems AS, headquartered in Norway, specializes in the development and manufacturing of dynamic positioning (DP) systems.

Major companies operating in the positioning services market are Stonex Group Inc., Qualcomm Inc., Honeywell International Inc., Broadcom Inc., Texas Instruments Inc., STMicroelectronics NV, Hexagon AB, Garmin Ltd., Nikon Corporation, Rockwell Collins Inc., Trimble Inc., Topcon Corporation, Leica Geosystems AG, TomTom N.V, NovAtel Inc., CHC Navigation, Eos Positioning Systems, Avidyne Corporation, Hemisphere GNSS Inc., Javad GNSS Inc., Septentrio Inc., Spectra Geospatial, ComNav Technology Ltd., Geneq Inc., Pentax Corporation, Kolida Instrument Co. Ltd.

North America was the largest region in the positioning services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the positioning services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the positioning services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Positioning services encompass technologies and systems designed to determine the geographic location or position of a device, object, or person. These services typically calculate precise location coordinates in terms of latitude and longitude. The accuracy of the location information provided by positioning services can vary depending on the technology and environment.

Positioning services are primarily categorized into indoor and outdoor positioning. Indoor positioning involves determining the location of an object or person within a building or enclosed space, where GPS signals may be weak or unavailable. These services are used in various applications, such as navigation, surveying and mapping, fleet management, and geotagging. They also serve a range of end-users, including the transportation and logistics sector, defense and military, healthcare, aerospace, agriculture, consumer electronics, and others.

The positioning services market research report is one of a series of new reports that provides positioning services market statistics, including positioning services industry global market size, regional shares, competitors with a positioning services market share, detailed positioning services market segments, market trends, and opportunities, and any further data you may need to thrive in the positioning services industry. This positioning services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The positioning services market includes revenues earned by entities by providing geolocation services, telemetry services, cellular network positioning, hybrid positioning systems and mapping services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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